Ross Ulbricht predicted that the price of Bitcoin will in the short term move down, and thus draws a Parallel to a long cycle of past years led to the use of the popular crypto-currency by several waves of volatility. He notes, however, that the crypto-currency to recover, finally, and a much higher value is reached.
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Long-term Bitcoin-cycle drives the value of
With a view on the market data, which reach back to the year 2011, claimed to be Ulbricht, that Bitcoin has gone through two major cycles. The first covered the period from 2011 to the end of 2017, and has had several different waves, which ended when Bitcoin reached its all-time high of $ 20,000. Bitcoin is now in its second cycle, and reflects currently the year 2014, as a Bitcoin fell sharply and about two years of decline was.
The founder of the Silk Road claims that Bitcoin could be located until the next year in a downward trend. In addition, the price could fall much lower, and possibly under $ 3,000, fall, before the crypto-currency has been recovering. It is not surprising that he says in this Phase, enormous fear among the Bitcoin enthusiasts previously, but insists that it will be an excellent Buy opportunity for Bitcoin, as it was during previous low stands of the case.
Ulbricht remains optimistic for the long-term future of Bitcoin, and notes that the Rebound will lead to the end of this cycle with safety to much higher prices. In terms of his prognosis, he notes:
It will require courage-the courage to buy in such an environment, but the rewards, when the shaft III brings the prices to new highs, it will be worth it.
The analysis excludes external market factors
There is no shortage of technical analysis, with the aim of the next movement of the market from Bitcoin to predict. While Ulbricht’s contribution is interesting, is he also centered a little too.
It is especially noteworthy that, in contrast to the well-established commodity markets daily to make significant new investments in the crypto-space flow. This growth is due to the fact that Bitcoin and other cryptocurrencies continue to gain popularity. If the increasing acceptance of, or a mass introduction has been taken only once on foot, will be the level of investment both of private individuals and institutions enormously and, without a doubt, all of the previous forecasts to shake.
The upcoming halving of the block reward could be the catalyst that triggers the long-awaited surge in Investment, which will come with certainty in the case of Bitcoin.